Prateek Singhal, Executive President & Head – Reinsurance at Howden India, believes that catastrophe bonds may be India’s “next shield”, emphasising the country’s need for instruments like cat bonds to protect its growing economy from climate risk.
Readers may recall that there have been recent calls for India to develop its own regulatory framework for insurance-linked securities (ILS), including catastrophe bonds.
This has become highly important as climate risk continues to intensify, and the global ILS market seeks geographic diversification.
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